Egypt allocates LE25 billion for New al-Alamein projects in the new fiscal year

The New Urban Communities Authority has allocated LE25 billion for New al-Alamein city projects during fiscal year 2021/2022, which will start in July.

The Deputy Minister of Housing for National Projects Khaled Abbas told Al-Masry Al-Youm that the cost of the new towers, which is being implemented with the Chinese company CSCEC, amounts to LE30 billion.

He said that the ministry is accelerating its pace to complete the first phase of New al-Alamein city developmental project, adding that in the coming months, the ministry will lay the foundations for the new projects.

Abbas’s statements came on the sidelines of a tour organized by the ministry in New al-Alamein city on Saturday, which saw the laying of the foundation stone for five new towers in the Downtown area.

The New al-Alamein city is being built on an area of 49,000 acres and is one of the fourth generation cities launched by the Housing Ministry in the past years.

According to statements by Housing Minister Assem al-Gazzar, the volume of spending on New al-Alamein city has so far reached more than LE65 billion.

The New al-Alamein city Development Authority said that contracts for the first phase of the city are worth LE220 billion until 2025.

The Director General of Development and Information in the New al-Alamein city Authority Mohamed Samir stressed that this huge development project changes the developmental map in the Mediterranean coast and creates a new integrated urban community.

He added that LE1.2 billion is being disbursed per month to the contracting companies in order to complete projects according to the set schedules and timetables.

Samir revealed that by the middle of the upcoming year, the first phase of the beach towers will be fully completed, and includes 15 residential and hotel towers as companies are currently working on the interior finishes and facades after completing all concrete work.

He added that the second phase of the beach towers, which includes eight towers has seen implementation rates up to the seventh floors.

According to the current schedule they will be completed within two years, he assured.

Implementation rates for the entertainment area, which is in the middle of the beach towers and directly overlooking the sea have amounted to 95 percent, he added, and it is expected that part of it will be operational this summer and fully operational by next summer.

It includes a group of shops, restaurants and shopping centers.

A large part of the heritage city will be completed by October, which is being implemented on an area of ​​260 acres.

It features a total of 70 facilities, including the main lake – the central garden – mosque – church – the Roman theater – the opera – commercial and hotel buildings In the old quarter – cinemas complex.

Designed in a Roman architectural style, it is set to be completed within the first quarter of 2022.

Regarding housing projects in the New al-Alamein city, Samir explained that the ministry has already completed the delivery of 38 residential buildings within social housing last year.

It is currently preparing to launch new units in the Sakan Misr project, with Samir adding that the project includes over 4,000 units and construction will be completed within several months.

And up to 95 percent of construction works in the Downtown area, which include 40 buildings with 1,320 units, have been completed and are marketed by City Edge, he said.

Edited translation from Al-Masry Al-Youm

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